I would say, it is mostly because many of them went up 10x over from their lows, and when the market got spooked, people wanted to "get out at any price," to preserve their gains. But the REALITY, to me, is that the industry is pretty much doing as good as ever. Which means, to me, the rally back up can and will be FIERCE, when the selling is over.
While it's hard to measure, you gotta like ROIAK at these kind of prices, if anything, for a material technical bounce. Other than that, I would say CMLS and ETM are my favorites.